Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 102.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 440,422 shares of the network technology company’s stock after acquiring an additional 222,575 shares during the period. TD Waterhouse Canada Inc. owned approximately 0.07% of Palo Alto Networks worth $80,144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Palo Alto Networks by 104.4% in the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after purchasing an additional 31,281,359 shares during the period. Geode Capital Management LLC grew its stake in shares of Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock valued at $2,611,013,000 after buying an additional 6,725,148 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Palo Alto Networks by 83.8% in the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock valued at $1,533,419,000 after buying an additional 3,841,359 shares during the period. Jennison Associates LLC lifted its stake in Palo Alto Networks by 83.0% during the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock worth $1,048,033,000 after acquiring an additional 2,612,474 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Palo Alto Networks by 59.3% during the 4th quarter. Legal & General Group Plc now owns 5,552,888 shares of the network technology company’s stock valued at $1,010,403,000 after acquiring an additional 2,067,838 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PANW shares. StockNews.com cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Morgan Stanley reduced their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group dropped their price target on shares of Palo Alto Networks from $240.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Stephens began coverage on Palo Alto Networks in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $205.00 price objective on the stock. Finally, BTIG Research cut Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.06.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the sale, the executive vice president now owns 321,774 shares of the company’s stock, valued at approximately $48,629,704.62. This represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the transaction, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,039,318 shares of company stock worth $181,925,602. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Trading Down 1.2 %

NASDAQ PANW opened at $167.69 on Monday. The business’s 50 day moving average is $180.06 and its two-hundred day moving average is $184.98. The stock has a market capitalization of $111.03 billion, a price-to-earnings ratio of 94.47, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 12-month low of $137.60 and a 12-month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.